California-based Ikänik Farms continues to expand its global operations by making the first legal sale of pharma-grade cannabis oil in Colombia.
On Tuesday, the international weed firm said it completed five commercial sales, as well as a research and development sale, which were all approved by the Colombian government.
Disclosure: Ikänik Farms is a Mugglehead advertiser
Ikänik Farms said it was positioned to make the first legal sales for pharmaceutical purposes because it was the first company in Colombia to gain GMP-Pharma and agronomic certifications to grow and process cannabis earlier this year.
In Colombia, the government will only approve the legal sale of cannabis for pharmaceutical use, which must be registered in the country as a fórmula magistral, or made-for-prescription.
Ikänik Farms said the commercial sales included one to Laboratory Efrata Flower, which works with patients seeking relief from pain, nausea, anxiety, and insomnia, and a sale to Equinab, which uses cannabis for treatment of pain, anxiety in dogs and horses, as well as melanoma in horses.
In addition, the company said it made the first sale to the Pontifical Bolivarian University in Medellin, to support clinical research on cannabis-based treatments for the novel coronavirus.
“We are pleased to be the first in Colombia to complete the sale of pharmaceutical grade, full spectrum cannabis oil for both human and veterinary use, to our national clients,” Ikänik Farms International president Borja Sanz de Madrid said in a statement.
The company expects monthly sales to incrementally grow in Colombia over the next 12 months, and to expand partnerships and sales throughout Latin America and Europe from its Casa Flores facility in Colombia.
After Ikänik Farms acquired Colombian medical cannabis firm Pideka last fall, the company has constructed an 80,000 square foot facility near the capital city of Bogotá, to grow cost-effective, high-quality cannabis.
“We are very proud to be part of Colombia’s medical cannabis market and look forward to supporting the emerging global marketplace,” Ikänik Farms CEO Brian Baca said.
In its home state of California, the company has cultivation sites in Adelanto and Sacramento, and a retail cannabis store and consumption lounge in Palm Springs set to open later this year.
Ikänik Farms was also the first company to receive permits from Mexican regulators to import cannabis and hemp seeds for domestic cultivation and sales.
Top photo via Ikänik Farms